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Board resolution for sale of car

Vikash Agarwal (Student) (104 Points)

22 September 2012

we are a pvt ltd co. want to sell a car which is capitalized in our books .can someone just tell me what are the documents to be prepared for this and what will the format of board resolution. Please reply its urgent

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8 Replies

CS Ankur Srivastava (Company Secretary & Compliance Officer) (17848 Points)
Replied 24 September 2012

You just need to pass a board resolution deciding and authorising someone to sell the car. Then execute the documents for sell of car.

Vikash Agarwal (Student) (104 Points)
Replied 24 September 2012

Can u just give me the format of board resolution regarding this matter

CA Mahesh (CA) (175 Points)
Replied 24 September 2012

Dear Sir,

If Pvt company solds it's vehicals, is board resoultion mandatory ??.

If yes pls tell me under which section

Vikash Agarwal (Student) (104 Points)
Replied 24 September 2012

Yes I know br is. Not necessary but unfortunately it is required by the rto for name transfer. So please can u just tell me what will be the format of br

CS Ankur Srivastava (Company Secretary & Compliance Officer) (17848 Points)
Replied 24 September 2012

Resoluion will always be asked by the appropriate authority to transfer the property.

Draft Resolution:

"RESOLVED THAT the Company do sale its ................ Car at an appropriate consideration."

"RESOLVED FURTHER THAT Shri.................. be and is authorised to sign, seal, execute and deliver necessary documents, paper and apply for the transfer of registration of the said ......... Car and to do all such necessary acts, deeds and things as may deemed necessary, expedient and desirable to give effect to the abvoe resolution."

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